Elementis is a global specialty chemicals business providing innovative solutions for some of the biggest challenges facing industries and companies today. Our business model is built on differentiated premium assets, an innovation focus, clear growth opportunities and strong cash generation.
The fundamentals of our business are strong, focused on high quality, high margin activities in Personal Care, Coatings and Talc. These premium performance additives businesses are centred on long duration and differentiated resources, including the only hectorite clay mine in the world in California, and high quality talc deposits in Finland. Combined with unique technology and market leading formulation capabilities these businesses have enduring competitive advantages.
Innovation is at the heart of what we do. Leveraging our capabilities in rheology, surface chemistry and formulation, we help our customers respond to their biggest challenges through deep partnerships, ongoing technical support and consistent quality, service and delivery. We are customer driven, solutions focused and fast moving. This focus drives our growth and returns.
Across our premium performance additive businesses, we see over $100m of revenue growth opportunities supported by structural megatrends. In Personal Care, we are well positioned to serve the growth of premium cosmetics in Asia and demand for natural skin care ingredients. In Coatings, our technologies enable the creation of more environmentally friendly industrial coatings and higher performance decorative paints. In addition, the need to reduce vehicle emissions and single use plastic consumption will drive strong demand for our Talc based additives.
Strong cash generation is a hallmark of Elementis. Looking forward, we target operating cash conversion of at least 90%, supported by working capital and capital expenditure discipline. The execution of our medium term Innovation, Growth and Efficiency priorities combined with strong cash generation will facilitate sustained reinvestment for organic growth and a clear deleveraging profile. Our medium term leverage objective is under 1.5x EBITDA, with further reduction thereafter, and is anticipated to drive significant shareholder returns.